17:09 25 November 2024
NBP: Inflation report projects slower GDP growth in Q1 ‘25
The November 2024 "Inflation Report" from the National Bank of Poland (NBP) revises down GDP growth projections for 2025. The first quarter is expected to grow by 3.3% (down from 4.3% in July), and the full year by 3.4% (previously 3.8%). Growth is hindered by weaker German economic performance, lower consumption in Poland, and reduced investments.
For 2026, the growth forecast is 2.8%, below the previous 3.1%. CPI inflation is projected at 5.6% in 2025, and 2.7% in 2026. NBP analysts also highlight weaker exports, particularly to Germany, and subdued consumer and investment activity, despite strong public investments and EU funds.
